AUGUSTA, Maine (AP) — Maine Gov. Paul LePage's conservative fiscal views are putting a chill on a $31 million bond package sponsored by a quasi-state government body.
The Maine Health and Higher Educational Facilities Authority is the agency that educational and health care nonprofits must go through under federal law to sell tax-exempt bonds. Unlike general obligation bonds, those don't require voter approval. But the Bangor Daily News says that may be changing.
LePage this month declined to sign a $31 million bond proposal benefiting Husson University, Fryeburg Academy, Colby College and three small hospitals. He and State Treasurer Bruce Poliquin say they won't sign any bond package that could put the state on the hook should the borrowing institution and the bond-issuing agency be unable to cover it.
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About time we stopped getting the State on the hook for these institutions.
If the proposed monies use is so great and the institution is able to pay than let them float their bonds.
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